AUDUSD : More Upside May Follow

AUDUSD fell towards the lower side of a trading channel last week but it found a support around 0.7100 from where price turned nicely in the last few trading days. In fact, a decline from 0.7384 also appears to be a completed three wave move so we may see more upside by the end of the month. Break of 0.7276 resistance will put more gains in play for wave Y that could then rally towards 0.7440-0.7480 to complete big wave 4). AUDUSD, 4H

Useful Searches

Disclaimer - Forex, futures, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the information contained on this site will generate profits or ensure freedom from losses.